Share Market Today: The domestic stock market started the trading week with a weak trend. BSE Sensex opened with a fall of 180 points at 77,483, while Nifty 50 opened with a fall of 72 points at 24,100. Earlier on Thursday too, huge pressure was seen in the market, when Sensex fell by 852 points to close at 77,664 and Nifty fell by 205 points to close at 24,173.
Talking about global signals, a mixed trend was seen in the market. In Asian stock markets, Japan’s Nikkei and Topix indices showed slight gains, while Korea’s Kospi and some other indices remained under pressure. There was also an atmosphere of uncertainty in Hong Kong and other major markets. On the other hand, US markets fell, with the Dow Jones, S&P 500 and Nasdaq all closing lower. This has affected global investment sentiment.
Crude oil reached above $106 per barrel
Crude oil prices continue to rise. Brent crude has reached above $106 per barrel, while WTI is also showing strength. Rising oil prices are a matter of concern for importing countries like India, as it is likely to increase inflation and put pressure on the current account deficit. Along with this, the US dollar is getting stronger and the dollar index has reached the level of 98.81, which increases the pressure on the emerging markets.
In the commodity market, a mixed trend of slight rise and fall in the prices of gold and silver was seen. Investors continue to lean towards safe investment options amid global uncertainty.
Infosys’ strong quarter
In the corporate sector, Infosys has presented strong quarterly results. The company’s profit has increased by 27.8% to ₹8,501 crore and it has declared a dividend of ₹25 per share. This is being considered a positive sign for the IT sector.
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Due to US-Iran tension, rising crude oil prices and weakness in global markets, there is an atmosphere of caution in the Indian stock market. Although better results of some companies and strength in select sectors are giving partial relief to investors, the overall trend still seems to be under pressure.
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